Legal Update - Corporate Law Reporter

Govt. extemds due date for furnishing of FORM GSTR-1 for taxpayers with aggregate turnover of upto Rs.1.5 crore

Government of India Ministry of Finance (Department of Revenue) Central Board of Excise and Customs Notification No. 17/2018 – Central Tax New Delhi, the 28th March, 2018 G.S.R……..(E). In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the Act),… Read More

Govt. extends due dates for furnishing of FORM GSTR-1 for taxpayers with aggregate turnover of more than Rs. 1.5 crores

Government of India Ministry of Finance (Department of Revenue) Central Board of Excise and Customs Notification No.18 /2018 – Central Tax New Delhi, the 28th March, 2018 G.S.R……(E). - In exercise of the powers conferred by the second proviso to subsection (1) of section 37 read with section 168 of the Central Goods and Services… Read More

Govt. amends custom notifications to exempt IGST & Service tax compensation cess on import of goods under Advance Authorisation/EPCG Schemes till 01.10.2018

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 35/2018-Customs New Delhi, the 28th March, 2018 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to… Read More

Govt extends due dates for filing FORM GSTR-3B for the months of April to June, 2018

Government of India Ministry of Finance (Department of Revenue) Central Board of Excise and Customs Notification No. 16 /2018 – Central Tax New Delhi, the 23rd March, 2018 G.S.R……(E). - In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification… Read More

Extension to IGST and Compensation Cess exemption under EOU scheme till 01.10.2018

GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE NOTIFICATION No. 55 /2015-2020 NEW DELHI, DATED THE 23 March, 2018 Subject: Amendments to Foreign Trade Policy 2015-20 – Extension to Integrated Goods and Service Tax (IGST) and compensation Cess exemption under EOU scheme till 01.10.2018 – regd. S.O(E): In exercise of powers conferred by Section 5… Read More

Spread margin benefit in commodity futures contracts: SEBI Circular

CIRCULAR SEBI/HO/CDMRD/DRMP/CIR/P/2018/51 March 20, 2018 To, The Managing Directors / Chief Executive Officers National Commodity Derivatives Exchanges Sir / Madam, Sub: Spread margin benefit in commodity futures contracts 1. Vide circulars CIR/CDMRD/DRMP/01/2015 dated October 01, 2015, SEBI/HO/CDMRD/DRMP/CIR/P/2016/77 dated September 01, 2016 and SEBI/HO/CDMRD/DRMP/CIR/P/2016/130 dated December 02, 2016, SEBI has prescribed norms inter-alia for providing margin… Read More

CBEC issues circular on processing of refund applications for UIN entities

Circular No. 36/10/2018-GST F. No. 349/48/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs GST Policy Wing New Delhi, Dated the 13th March, 2018 To, The Principal Chief Commissioners/Chief Commissioners/ Principal Commissioners/ Commissioners of Central Tax (All) The Principal Director Generals / Director Generals (All) The Principal Chief… Read More

GST Council recommends introduction of E-way Bill from 1 April 2018

Ministry of Finance In the 26th meeting held here today , the GST Council has recommended the introduction of e-way bill for inter-State movement of goods across the country from 01st April 2018. For intra-State movement of goods, e-way bill system will be introduced w.e.f. a date to be announced in a phased manner but not… Read More

GST Council’s recommendations during its 26th meeting in New Delhi

Ministry of Finance Return filing System The present system of filing of GSTR 3B and GSTR 1 is extended for another three months i.e., April to June, 2018 till the new return system is finalized. A new model was discussed extensively and Group of Ministers on IT has been tasked to finalize the same.… Read More

GST council decides to extend tax exemption for exporters for 6 months

Ministry of Finance Sending a strong positive signal to the exporting community, the GST Council in its 26thmeeting held here today decided to extend the available tax exemptions on imported goods for a further 6 months beyond 31.03.2018. Thus, exporters presently availing various export promotion schemes can now continue to avail such exemptions on… Read More

GST council made recommendations regarding Data Analytics in its 26th meeting

Ministry of Finance In the 26th meeting held here today , the GST Council has been apprised of the fact that CBEC and GSTN have started detailed data analytics across a number of data sets available with them. The outcome of preliminary data analysis has revealed interesting insights: It has emerged that there is variance between… Read More

CBEC notifies Central Goods and Services Tax (Second Amendment) Rules, 2018

MINISTRY OF FINANCE (Department of Revenue) CENTRAL BOARD OF EXCISE AND CUSTOMS NOTIFICATION New Delhi, the 7th March, 2018 No. 12/2018-Central Tax G.S.R. 204(E).—In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend… Read More

Govt. rescinds notification No. 06/2018 – CT dated 23.01.2018

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise and Customs Notification No. 13/2018 – Central Tax New Delhi, the 7th March, 2018 G.S.R…. (E).- In exercise of the powers conferred by section 128 of the… Read More